Allianz Global Investors (AllianzGI) has announced the first close of the Allianz Global Real Estate Debt Opportunities Fund (AGREDO) at EUR515 million (US$548 million). Launched in February 2022, the AGREDO enables investors to invest alongside Allianz and aims to provide them with access to a globally diversified portfolio of real estate debt opportunities with strong downside protection.
The AGREDO invests in real estate debt funds and co-investments that finance real estate assets and development projects globally. The portfolio diversification is targeted by investing across geographies, segments, vintage years, sectors and financing situations. The fund will invest in different sectors, covering residential, logistics, and office, but also niche segments such as student housing or science parks.